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Category: Emerging Articles

Emerging Articles

Business Owners: Is It Time to Transition Ownership to the Next Generation?

One of the upsides to owning a small business is the chance to provide a financial legacy for your family members to participate in after you exit the business. However, there are federal tax implications…
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Emerging Articles

How to Trim Your 2024 Taxes by Contributing to a Retirement Plan in 2025

Many types of retirement plans allow contributions to be made after year-end. And last-minute retirement contributions can be a powerful strategy: You can lower your 2024 taxes while simultaneously growing your retirement savings. But what…
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Emerging Articles

Small Businesses: 5 Last-Minute Tax Breaks to Consider for 2024

The deadlines for filing 2024 tax returns (or extensions) are fast approaching. Has your small business taken advantage of all the legitimate ways to lower its federal income tax bill for 2024? Fortunately, it may…
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Accountant Near Me, Accounting News, Emerging Articles, General

Partnerships – Tax Considerations When Adding a New Partner

Are you considering inviting an employee or an outsider to participate in your existing partnership? Before making any commitments, it’s important for you and the prospective partner to understand the potential federal tax implications. Important:…
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Accountant Near Me, Accounting News, Emerging Articles, General

IRS suspends processing of ERTC claims

In the face of a flood of illegitimate claims for the Employee Retention Tax Credit (ERTC), the IRS has imposed an immediate moratorium through at least the end of 2023 on processing new claims for…
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Accountant Near Me, Accounting News, Emerging Articles, General

Take action now to reduce your 2023 income tax bill

A number of factors are making 2023 a confounding tax planning year for many people. They include turbulent markets, stabilizing but still high-interest rates, and significant changes to the rules regarding retirement planning. While much…
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Tax Accountants Near Me
Accountant Near Me, Emerging Articles

5 Ideas to Help Small Business Owners Reduce Taxes for 2023

As year end approaches, small business owners should review their tax situations to determine ways to lower federal income taxes for the current tax year — and beyond. Fortunately, no significant unfavorable federal tax law changes…
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Accountant Near Me, Emerging Articles

Corporate Transparency Act: What You Should Know

Beginning 1/1/2024, most small businesses will be required to report information about the business entity, its beneficial owners and the company applicants who established the entity. Substantial fines and penalties apply if timely reports are…
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Accountants Near Me
Accountant Near Me, Accounting News, Emerging Articles , , ,

IRS issues ERC Guidance as Congress Mulls Early Termination

The IRS has published new guidance on the Employee Retention Credit (ERC). The credit was created in March 2020 to encourage employers to keep their workforces intact during the COVID-19 pandemic. Notice 2021-49 addresses various…
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Accountant Near Me
Accountant Near Me, Accounting News, Emerging Articles , , ,

SBA Streamlines Forgiveness for Smaller PPP Loans

The Small Business Administration (SBA) has released new guidance intended to expedite the forgiveness process for certain borrowers under the Paycheck Protection Program (PPP). The simplified process generally is available for loans of $150,000 or…
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